Korea Exchange, Inc (KRX) and the Hanoi Securities Trading Center (HASTC) signed a Memorandum of Understanding (MOU) in Hanoi on November 14 to boost co-operation between both capital markets.

Accordingly, the two exchanges agreed to enhance development of both markets through sharing information in the areas of market regulation and enforcement. KRX has also pledged to collaborate with HASTC to provide educational assistance to potential Vietnamese enterprises that are seeking for international capital and branding through a listing in the Republic of Korea. This includes organising seminars on listing rules and requirements for potential Vietnamese enterprises.

For its part, the HASTC, within its capacity, will guide Vietnamese listing aspirants in managing local legal and regulatory processes, and co-operate with KRX in its supervision of Vietnamese companies that are listed on KRX.

“This event marks a new stage of development of the HASTC in collaborating with international capital markets in general and with KRX in particular,” said Mr Tran Van Dung, HASTC Managing Director, adding that the HASTC expected to have closer co-operation with KRX in sharing market information and development experience, as well as assisting Vietnamese listed companies to access the Korea market.

Mr Chang Ho Lee, President and CFO of KRX also expressed his firm belief that the signing of the MOU between the two exchanges would provide the base for a strategic partnership between HASTC and KRX far overpassing normal business co-operation in the future.”

Lao Bao Special Trade-Economic Zone has so far attracted 52 projects with a total registered investment capital of over VND 2.3 trillion after a decade of etablishment and development.

In addition, hundreds of enterprises and some 2,500 households are carrying out trading activities in the zone. The zone's total industrial production value in 2008 is estimated at VND 400 billion, accounting for 35-40% of the total provincial industrial production value.

The figures were released at an anniversary to mark the 10th founding anniversary of the zone in central Quang Tri province.

On the occasion, provincial authorities presented investment licences to three enterprises with a total registered capital of VND 100 billion.

Quang Ninh makes FDI attraction priority

The northeastern province of Quang Ninh has attracted an increased flow of foreign direct investment (FDI) so far this year as a result of its efforts to expand investment promotion activities abroad.

Since the beginning of this year, Quang Ninh has granted licences to more than 10 projects with a registered capital of nearly 135 million USD, 2.5 times higher than the same period last year. This figure has brought the total number of FDI projects in the province to 110, with total investment exceeding 1.2 billion USD.

More than 100 business delegations from countries and territories worldwide such as China , the Republic of Korea , Japan , Taiwan , Hong Kong , Thailand , Canada , Australia , the US and the United Arab Emirates , have flocked to the province to explore investment opportunities.

Quang Ninh encourages FDI investment in projects that focus on infrastructure and industrial development, high-quality tourism and technology, as well as other areas that need supportive projects and employ large numbers of workers.

To facilitate the operations of investors, the province has spared no efforts to accelerate administrative reform and project site clearance procedures, develop high-quality human resources, and allocate land for the construction of houses for workers, particularly those working at industrial zones (IZ).

Quang Ninh is now home to five IZs, namely Cai Lan, Viet Hung, Hai Yen, Hai Ha and Dong Mai, with areas ranging from 150 to 300 ha.

ACB and PMC agree on comprehensive cooperation

Two subsidiaries of the Asia Commercial Bank (ACB) will act as financial consultants for the Phu My Bridge BOT Joint Stock Company (PMC) under a comprehensive strategic cooperation agreement was signed in Ho Chi Minh City on Nov. 14.

Under the terms of the agreement, the ACB Securities Company (ACBS) and the ACB Fund Management Company (ACBC) will provide PMC with consultations services regarding financial activities relating to its business and investments, including financial structure, the arrangement of project capital and investment capital management.

PMC is a large-scale investor in transport facilities in Ho Chi Minh City , with charter capital of 745 billion VND. The company is currently implementing a 2.6 trillion VND (153 million USD) project to build Phu My Bridge project and a 1.6 trillion VND (94 million USD) project to improve the road network on the approach to Phu My Bridge.